Report : Europe Fishmeal Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Source (Salmon, Mackerel, Anchovy, Capelin, and Others) and Application (Fertilizers, Animal Feed, and Others)
Anchovy Segment to Dominate Europe Fishmeal Market during 2020–2028
According to a new market research study on “Europe Fishmeal Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Source and Application” is expected to reach US$ 3,672.60 million by 2028 from 2,068.02 US$ million in 2021. The market is estimated to grow at a CAGR of 8.6% from 2021 to 2028. The report provides trends prevailing in the Europe fishmeal market along with the drivers and restraints pertaining to the market growth. Increasing demand for protein rich animal feed is the major factor driving the growth of the Europe fishmeal market. However, issues associated with availability of various substitutes hinders the growth of Europe fishmeal market.
Europe fishmeal market is segmented into source, application, and country. Based on source, the Europe fishmeal market is segmented into salmon, mackerel, anchovy, capelin, and others. In 2020, the anchovy segment accounted for the largest revenue share. Based on application, the Europe fishmeal market is segmented into animal feed, agriculture, and others. In 2020, the animal feed segment accounted for the largest revenue share. Based on country, the Europe fishmeal market is segmented into France, Germany, Italy, the UK, Russia, and rest of Europe. Rest of Europe held the largest market share in 2020.
Europe is estimated to suffer an economic hit due to a lack of revenue from various industries. The European countries have implemented drastic measures and travel restrictions, including partially closing their borders, which is anticipated to impact market growth in the region soon.
COPEINCA; FF SKAGEN A/S; Oceana Group Limited; Omega Protein Corporation; Pelagia AS; Soytex LTD; TASA; The Scoular Company; and TripleNine are among the leading companies in the Europe fishmeal market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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